Moving can be a stressful experience, and it's important to make sure that your belongings are properly protected. As an expert in the moving industry, I understand the importance of having the right insurance coverage for your business. Most moving companies include auto liability, cargo coverage, and workers' compensation in their business owners policy (BOP). Automobile liability works the same way as it does in personal cars, providing coverage for bodily injury and property damage.
Workers' compensation provides coverage for injured workers and is required in most states. General liability insurance is the most comprehensive type of insurance for moving companies and is the first line of defense against a variety of claims. Full value protection is an excellent option for most people, but if you have high-value items or are concerned about weather-related damage, you may want to take out additional insurance from a third party. Full protection allows the moving company two options in the event of loss, destruction, or damage to any item during the move.
If you want 100% coverage, you'll need to supplement your moving company's valuation option with an external insurance provider. Commercial auto coverage should cover the full value of your company's moving trucks. The cost of moving insurance will depend on factors such as the value of your belongings and the type of coverage you choose. Moving insurance covers any damage caused to household items during transportation (and possibly during storage).
It does not set limits on liability for damaged items and covers things such as natural disasters. Don't assume that your homeowners insurance (or renters insurance) will cover every item in the household during the move. Appraisal coverage is the amount of liability that your moving company is willing to accept if your belongings are damaged or lost during the move. Some circumstances may limit the liability of the moving company and make buying moving insurance more attractive.
When it comes to protecting your belongings during a move, it's important to understand what kind of insurance you need and how much coverage you should get. As an expert in this field, I recommend that you speak with an experienced insurance agent who can help you determine what type of coverage is best for your situation. They can also provide advice on how to get the most out of your policy and help you find a policy that fits within your budget.